Sec. 7. The board may set up a retirement account for the benefit of the employees and past employees of each utility. The board may provide for the method, manner, and amount of contributions by the utility out of its earnings, reserves, or earned surplus, and by employees if required by the plan, and may create an account for the utilities and allocate to the account contributions sufficient to establish the plan on a sound actuarial basis, including contributions for past services of employees. However, the plan may not require contributions from an employee to exceed six percent (6%) of his wage or salary.
As added by Acts 1982, P.L.74, SEC.1.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1.5. Municipal Utilities
Chapter 3. Operation of Municipally Owned Utilities Generally
8-1.5-3-1. Application of Chapter
8-1.5-3-3.3. Legalization of Certain Utility Service Boards
8-1.5-3-4. Board; Powers and Duties
8-1.5-3-4.5. Application of Section; Bid, Proposal, or Quotation Submitted by Trust
8-1.5-3-5. Superintendent; Powers and Duties; Compensation; Bond; Removal
8-1.5-3-6. Load Building Appliances; Purchase; Sale and Advertisement
8-1.5-3-8.1. Hearings; Adoption of Rates and Charges; Notice; Contents
8-1.5-3-8.2. Objections to Rates and Charges; Bonds; Hearings
8-1.5-3-8.3. Objection to Extraterritorial Rates and Charges; Review by Commission
8-1.5-3-9.5. Return of Utility to Commission Jurisdiction Following Removal
8-1.5-3-10. Rates and Charges; Electric Service Outside Corporate Boundaries
8-1.5-3-12. Loan From Utility to Municipality; Loan Requirements; Limitation on Amount
8-1.5-3-13. Investments of Surplus Money; Authorization of Officers
8-1.5-3-14. Annual Report; Exemption; Examination of Accounts
8-1.5-3-15. Utilities Operated Under Ic 8-1-11.1; Rights and Powers